Laws & Legislation

 

08 01 2013

08 01 2013

Two-thirds of Small Businesses Say They’re Not Ready for Healthcare Mandates

A new survey released by the U.S. Chamber of Commerce shows that the majority of small business owners feel unprepared to comply with the Patient Protection and Affordable Care Act (ACA). More than two-thirds of respondents said they aren’t ready for the employer insurance mandates, which were recently delayed by a year to give companies more time to prepare for the adjustment. The healthcare law is now scheduled to go into full effect in 2015, instead of 2014.

The business lobbying group conducts quarterly surveys of small firms, and this quarter found that concerns over the regulations have gone up by 4 percentage points since first quarter 2013. The survey also found that 30 percent of businesses reported being unprepared to comply with the new law, and around 25 percent of respondents said they did not know what they had to do to meet the regulations.

The report also found that 71 percent of the 1,300 small businesses polled said they would be less likely to hire new workers because of the law. Owners are apparently concerned over the rising costs of healthcare and how it will financially impact business.

Concerns over finances

As small businesses are still struggling to stay afloat, many worry that the healthcare law will sink companies that are still having a hard time with hiring or getting a small business loan. In order to stay in business and to dodge the healthcare mandates, 24 percent of survey respondents said they planned on cutting hiring to stay under the 50-employee threshold – under the healthcare legislation, all employers with more than 50 workers are required to offer health insurance options for their staff.

With the employer healthcare mandate approaching over the coming years, many businesses may find themselves in need of extra funding. If a small business owner needs help with company financing, they can come to National Funding, where companies can get a cash advance for small business and find resources for improving business practices across the board.

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Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan.  What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number.  We will also ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver’s license or other identifying documents.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121.  Funding amount and credit approval is subject to a full credit profile review.